EC okays Enel, Centerbridge JV for 154-MW Greek wind project
Monastiri (Greece) - 10.8 MW wind farm. Photo by Enel Green Power, All Rights Reserved.
The European Commission (EC) has cleared the formation of a joint venture (JV) between Italian energy company Enel SpA (BIT:ENEL) and US private equity firm Centerbridge Partners LP to build a 154-MW wind farm in Greece.
The purpose of the JV is the construction and operation of the complex of seven wind farms at Kafireas on Greece's Evia island.
The Commission said today it examined the deal under the simplified merger review and granted approval after concluding that the JV would raise no competition concerns as there are limited overlaps between the activities of the two companies.
Enel announced in June it had started construction of the Kafireas wind power complex, in which it would invest EUR 300 million (USD 356.9m). Local media subsequently reported that the Council of State had issued temporary orders halting work on the project until a decision is made on a case seeking to block it.